Category Archives: corporate culture

First, we need to trust our science. We do this every time we fly in a jet or rush to the doctor in hope of relief from illness; but now there is some cherry-picking of science going on in the various kinds of resistance to the news about climate change, and this double standard needs to be called out. The so-called climate change skeptics are now simply in denial. All science is skeptical, and the scientific community has looked at this situation and found compelling evidence for anyone with an open mind.

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We already have good starter technology for lithium-ion batteries in cars; clean, renewable energy generation; cleaner building methods; and so on. The technical solutions are being improved all the time in research labs.

The main problem is making these changes happen more quickly than they can in the false pricing system that we have created and enforced within our hierarchical power structure. There is conflict over how to pay for decarbonizing, which is deemed “too expensive” to execute quickly. There is both a defense of the destructive carbon burning we are engaged in and a resistance to the most obvious solutions among people who remain frightened of the idea of government-led economic programs. But now we simply must have such programs because the market is not capable of taking action.

Am I saying that capitalism is going to have to change or else we will have an environmental catastrophe? Yes, I am.

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The main reason I believe capitalism is not up to the challenge is that it improperly and systemically undervalues the future. I’ll give two illustrations of this. First, our commodities and our carbon burning are almost universally underpriced, so we charge less for them than they cost. When this is done deliberately to kill off an economic competitor, it’s called predatory dumping; you could say that the victims of our predation are the generations to come, which are at a decided disadvantage in any competition with the present.

Second, the promise of capitalism was always that of class mobility—the idea that a working-class family could bootstrap their children into the middle class. With the right policies, over time, the whole world could do the same. There’s a problem with this, though. For everyone on Earth to live at Western levels of consumption, we would need two or three Earths. Looking at it this way, capitalism has become a kind of multigenerational Ponzi scheme, in which future generations are left holding the empty bag.

You could say we are that moment now. Half of the world’s people live on less than $2 a day, and yet the depletion of resources and environmental degradation mean they can never hope to rise to the level of affluent Westerners, who consume about 30 times as much in resources as they do. So this is now a false promise. The poorest three billion on Earth are being cheated if we pretend that the promise is still possible.

All so nicely said that perhaps I’d feature it anyway, though it’s nothing especially new to my readers. What’s interesting is where this appears, which is on a McKinsey web site. That’s amazing. Even a huge corporate consultancy has the nerve to consider these ideas. Only the press and the politicians seem to miss the scope of the problem, the scale of the transition.